Macau Slot, the region’s monopoly-holding betting operator, has had its sports betting licence extended for a further five years.
The current concession – which includes football and basketball betting – was due to expire last month, but has now been extended until 5 June 2021, allowing the operator to continue to supply sports betting services to casino customers in the region.
It will continue to hold a monopoly on wagering on all sports except horseracing, where a concession is also held by the Macau Horse Racing Co, owner of the Macau Jockey Club.
Macau Slot – which is part of the business empire built by Stanley Ho Hung Sun, the founder of casino operator SJM Holdings Ltd – has seen strong growth in the past few years. In the year ended 31 December 2014, revenues grew by 18.4 percent to MOP121.84m (E13.54m) thanks a strong performance during the FIFA World Cup.
The industry has to constantly evolve and provide its customers with new products.
According to Macau’s regulator, there will be “no major change” in the terms of contract for the operator moving forward – aside from its five-year extension.
Operators in the region have been increasingly keen to provide betting services to customers as the gaming economy moves away from China-based VIPs and towards a mass-market provision.
Casino owners in the jurisdiction are hoping to ape the integration of wagering and casino products found in Las Vegas – a destination that has become known for the successful diversification of its economy.
“Sports betting is an opportunity in the U.S. and is likely an opportunity in other markets as well,” Geoff Freeman, president and chief executive of the American Gaming Association told GGR Asia in an interview last month.
“I know it is something [Macau operators] would also like to do. The industry has to constantly evolve and provide its customers with new products.”